The news: Insurer IAG expects to release $200 million of a $380 million provision linked to a Federal Court class action, following a court decision that the matter will no longer continue as a class action from 26 March.
The context: Slater & Gordon initiated class action proceedings against IAG subsidiaries Insurance Australia Limited (IAL) and Insurance Manufacturers of Australia (IMA) in May 2024.
A Slater & Gordon investigation had suggested that IAL and IMA had used pricing strategies…
